Sei Investments Co. Acquires 24,008 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Sei Investments Co. increased its holdings in Flushing Financial Co. (NASDAQ:FFIC) by 20.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,004 shares of the bank’s stock after buying an additional 24,008 shares during the period. Sei Investments Co.’s holdings in Flushing Financial were worth $1,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FFIC. YHB Investment Advisors Inc. bought a new position in Flushing Financial in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in Flushing Financial in the 1st quarter valued at $32,000. EntryPoint Capital LLC bought a new position in Flushing Financial in the 1st quarter valued at $35,000. CWM LLC boosted its holdings in Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares during the period. Finally, Perritt Capital Management Inc bought a new position in Flushing Financial in the 2nd quarter valued at $132,000. 67.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the sale, the chief operating officer now owns 83,238 shares in the company, valued at approximately $1,122,880.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.31% of the company’s stock.

Flushing Financial Stock Performance

Flushing Financial stock opened at $14.09 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $409.58 million, a PE ratio of 14.09 and a beta of 0.76. The firm has a fifty day simple moving average of $13.93 and a two-hundred day simple moving average of $13.09. Flushing Financial Co. has a twelve month low of $10.74 and a twelve month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. During the same period in the previous year, the firm posted $0.26 earnings per share. Research analysts expect that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Friday, September 6th. Flushing Financial’s payout ratio is currently 88.00%.

Analyst Ratings Changes

Several research analysts have commented on FFIC shares. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and raised their price target for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods raised their price target on shares of Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Raymond James raised their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.